Akobo Minerals begins application process to trade on the US based OTC Markets Platform
OSLO, 21 August 2023: Akobo Minerals AB (publ) (Euronext and Frankfurt: AKOBO), the Scandinavian-based Ethiopian gold exploration and boutique mining company, today announced that it has decided to apply for trading on the OTC Markets platform in the United States.
While Akobo Minerals already has a full listing on two markets in Europe, there are several benefits of having an additional US-based quotation for its shares. The main benefit is having a freely tradeable security with a US ticker symbol and a USD share quote that will enable the Akobo share to become available to all US investors through their broker of choice. Over 12,000 US and global securities are already trading on the OTC Markets platform, including mining companies like Lundin Mining and Endeavour Mining (in addition to some of the largest and most well-known brands such as Adidas, Heineken, Roche, BNP Paribas and Hugo Boss).
A second benefit, as Akobo Minerals is already listed on the Euronext exchange in Oslo and qualifies to trade on the OTC QX Best Market, is that the listing process of securing an OTC cross-trade in the US is simplified without having to do any additional US regulatory or legal work.
Jørgen Evjen, CEO of Akobo Minerals, said: “As the company moves towards gold production from our boutique mine in Ethiopia, we want to ensure that new investors have greater access to trading of our shares. An OTC cross-trade in the US, to supplement our European listing on the Oslo and Frankfurt exchanges, will achieve this.”
Evjen added: “We have seen that there is high interest from investors in mining shares in the US, and I am sure that Akobo Minerals can capitalise on this as we expand our operations in Ethiopia.
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For more information, contact:
Jørgen Evjen, CEO, Akobo Minerals
Mob: (+47) 92 80 40 14
About Akobo Minerals
Akobo Minerals is a Scandinavian-based gold exploration and boutique mining company, currently holding an exploration license covering 182 km2 and with an ongoing mine development in the Gambela region and Dima Woreda, Ethiopia. The company has established itself as the leading gold exploration company in Ethiopia through more than 13 years of on-the-ground activity.
Akobo Minerals holds a 16 km 2 mining license and is working to start up mining of its very promising Segele target. It has an Inferred and Indicated Mineral Resource of 68,000 ounces yielding a world-class gold grade of 22.7 g/ton, combined with an estimated all-in sustaining cost (AISC) of USD 243 per ounce. Still open to depth, the gold mineralised zone continues to expand and will have a positive impact on future resource estimates and mine-life. The exploration license holds numerous promising exploration resource-building prospects in both the vicinity of Segele and in the wider license area.
Akobo Minerals has an excellent relationship with local communities all the way up to national authorities and we place environment and social governance (ESG) at the heart of our activities – as demonstrated by a planned industry-leading extending shared value program.
Akobo Minerals has built a strong local foothold based upon the principles of sound ethics, transparency, and communication, and is ready to take on new opportunities and ventures as they arise. The company is uniquely positioned to become a major player in the future development of the very promising Ethiopian mining industry.
Akobo Minerals has a clear strategy aimed at building a portfolio of gold resources through high-impact exploration and mining, whilst adhering to a lean business operation. The company is headquartered in Oslo and is listed on the Euronext Growth Oslo Exchange and Frankfurt Stock Exchange under the ticker symbol, AKOBO.
Akobo Minerals fully meets and complies with all parts of the JORC code, 2012. For further information, see https://www.jorc.org/
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